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Has DocuSign (DOCU) Outpaced Other Business Services Stocks This Year?

Zacks Equity Research

Investors focused on the Business Services space have likely heard of DocuSign (DOCU), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

DocuSign is a member of the Business Services sector. This group includes 194 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. DOCU is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for DOCU's full-year earnings has moved 18.23% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that DOCU has returned about 157.27% since the start of the calendar year. At the same time, Business Services stocks have lost an average of 0.07%. This means that DocuSign is performing better than its sector in terms of year-to-date returns.

Looking more specifically, DOCU belongs to the Technology Services industry, which includes 61 individual stocks and currently sits at #152 in the Zacks Industry Rank. This group has gained an average of 25.42% so far this year, so DOCU is performing better in this area.

Investors with an interest in Business Services stocks should continue to track DOCU. The stock will be looking to continue its solid performance.


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